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Victoria ISD schedules Aug. 28 public hearing and approves tax-rate notice for publication
Summary
The board set a public meeting for Aug. 28 to discuss the budget and proposed tax rate and approved the notice for publication; administration presented tax-rate breakdowns, fund-balance use and budget totals.
The Victoria ISD Board of Trustees voted 6-0 on Aug. 7 to schedule a public meeting to discuss the district's proposed budget and tax rate at 5:30 p.m. Aug. 28 at the Victoria ISD Administration Building and to approve the notice for publication.
Michelle Yates, presenting the proposed budget and notice, walked trustees through the district's two'bucket tax structure: maintenance and operations (M&O) and interest and sinking (I&S). She said the state's compression kept the district's M&O rate at 0.6169 per $100 of assessed value and, with previously approved pennies, the total M&O rate is 0.6969. The I&S (debt) rate is projected at 0.1066, she said.
Yates told trustees the district estimates debt service for the coming year at $10,074,200 and expects approximately $2,200,000 in state aid tied to homestead exemptions (noted in the meeting as additional state assistance). The proposed combined budget is presented as balanced at about $139,000,000, administration said.
Trustees approved two related motions: one scheduling the Aug. 28 public meeting and another approving publication of the proposed tax-rate notice. Administration said the notice will be posted in the Victoria Advocate and on the district website; due to publication timelines, the paper version is expected to appear on Aug. 17.
The motions were moved and seconded and adopted by unanimous voice/raised-hand votes.
Speakers quoted in this article spoke during the Aug. 7 Victoria ISD Board meeting.
